5089062026-09-015089062026-09-01in-capmkt:AtTheTimeOfBecomingPartyToLitigationOrAssessmentOrAdjudicationOrArbitrationOrDisputeMember5089062026-09-01OppositePartyAsPerSubPara8OfParaBDomain1EVERESTIND EVEREST INDUSTRIES LIMITED508906NOTLISTEDINE295A01018Pendency of any litigation(s) or dispute(s) (Sub-para 8-Para B)At the time of becoming the party to any litigation, assessment, adjudication, arbitration or disputeNewfalse2026-08-3111:50:002026-09-01The State Goods and Services Tax (SGST) Department, Government of India2026-08-31AgencyDeputy Commissioner of State Tax, CT & GST Circle, Balasore, OdishaCompany Everest Industries LimitedThe Show Cause Notice raises the following major concerns: a) Discharge of CGST & SGST liabilities without due interest b) Issuance of Credit Notes beyond time limit c) Receipts of Credit Notes for inward supplies & reduction of ITC thereon. d) Availed blocked Credit under Section 17 (5) of CGST/SGST Act e) Disallowance of Input Tax Credit on contravention of Section 16 (2) (c) of CGST/SGST Act f) Liability under RCM transactions The GST Department has raised objections as stated above by the Company for the financial Year 2020-21, amounting to Total demand of Rs. 3,89,21,097/- (Tax - Rs. 1,30,83,256/- + Interest Rs. 1,27,54,585/- + Penalty Rs. 1,30,83,256/-) under Section 74 of CGST & OGST Act, 2017.The GST Department has proposed to recover the amount of Rs. 3,89,21,097/- under Section 74 of CGST & OGST Act, 2017. Since it is only a SCN at this stage, and the Company firmly believes that it maintains strong legal and factual grounds in this matter and will be taking all necessary actions to present and defend its case before the relevant authorities and address the demand, there is no expected material financial impact. The Company is in the process of preparing a response to the Show Cause Notice. The Company does not consider it likely that this potential demand will materialize as a claim against the Company and result in liability.The claim is raised for Rs. 3,89,21,097/- under Section 74 of CGST & OGST Act, 2017.